Global multi-stage investment firm B Capital, founded by Facebook Co-founder Eduardo Saverin and Silicon Valley-based investor Raj Ganguly, has closed its maiden healthcare fund for investments in US and Asia.
The fund -- B Capital Healthcare Fund I -- in conjunction with B Capital Growth Fund III, allocates over $500 million to opportunities across the healthcare sector, from digital health to biotech, the company said.
The fund is headed by Robert Mittendorff who joined the company in April 2021 to lead its broader healthcare initiatives globally.
The current B Capital global healthcare portfolio includes over 20 companies in the US, Asia and Europe, spanning early venture to late growth venture, across healthtech, digital health, biotech and medtech. Its healthcare portfolio in India includes digital wellness start-up Mojocare and e-pharmacy platform PharmEasy. Its recent global investments include Hotspot Therapeutics, an AI-enabled drug discovery company; Triumvira, a novel cell therapy platform in clinical development; CapitalRX, a transformative tech platform for pharmacy benefits management; and Carlsmed, an AI-enabled personalized spinal implant company.
“B Capital has decades of collective operating experience in the healthcare industry and a deep technical focus that allows us to identify and support the best companies in the space. Our unique value-add approach to global venture and growth investment, including our strategic partnership with Boston Consulting Group (BCG), places founders and management teams front-and-center, surrounding them with resources they need to transform large markets through innovation and customer-focused solutions,” Howard Morgan, Chair and General Partner of B Capital, said.
In January, B Capital announced the close of Growth Fund III and affiliated funds with aggregate capital commitments of approximately $2.1 billion. In July last year, the company announced the close of $250 million Ascent Fund II, its first dedicated early-stage fund. With these fund closes, B Capital’s total assets under management are approximately $6.3 billion.
B Capital has a diverse portfolio in India including edtech unicorn BYJU’S, logistics company Blackbuck, news aggregator start-up Dailyhunt, ecommerce platform Meesho, and fintech firms Khatabook and Fi.